Equifax CEO: All Companies Get Breached
Sunday October 1, 2017. 06:19 PM , from Slashdot/Apple
An anonymous reader quotes Fortune:There are two kinds of companies, according to a saying that former Equifax CEO Rick Smith shared in a speech at the University of Georgia on August 17. 'There's those companies that have been breached and know it, and there are those companies that have been breached and don't know it,' he said. Though it was still 21 days before his company would reveal that it had been massively hacked, Equifax, at that time, had been breached and knew it...
Smith's fastest growing area of security concern was state-sponsored hacking and espionage, he said. 'It's countries you'd expect -- you know it's China, Russia, Iran, and Iraq -- and they're being very aggressive trying to get access to the know-how about how companies have built their capabilities, and transport that know-how back to their countries,' said Smith. 'It's my number one worry.' he added.
'In a speech at the University of Georgia last month, he described a stagnating credit reporting agency with a 'culture of tenure' and 'average talent', reports Bloomberg, adding that the Equifax CEO also bragged that the company's data-crunching business nonetheless earned a gross profit margin of 90%.
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